Mr James Olotu, the Managing Director of Niger Delta Power Holding Company Ltd (NDPHC), on Thursday said that the National Integrated Power Projects (NIPPs) were properties of the three tiers of government.Thank you for reading this post, don't forget to subscribe!
Olotu said this during the inauguration of the 434 megawatts Geregu Phase 2 Power Station in Geregu, Kogi.
He said that the National Economic Council approved the finance of the construction of the NIPPS with funds from the Excess Crude Oil Account.
He listed the 10 power plants built across the nation as the 630mw plant in Calabar, the 378mw plant in Egbema; the 504 plant in Ihovbor; the 252mw plant in Gbarain and the 504mw plant in Sapele.
Others are the 252 mw plant in Omoku; the 1,076mw plant in Alaoji, the 750mw plant in Olorunsogu; the 500mw plant in Omotosho and the 434mw plant in Geregu.
Olotu said that the power projects were conceived by the administration of former President Olusegun Obasanjo in 2004.
He said that the plants would boost the generation, distribution and transmission capacity of Nigeria’s power sector.
He said that NDPHC was only a channel of managing the investments on behalf of the federal, states and local governments.
He said that the projects were managed in line with global best practices, adding that they would be run by the private sector to ensure the success of the current power sector reforms.
Olotu noted that the NIPPs were conceived due to the near-collapse of the country’s power infrastructure, adding that the project would boost the development of the power sector.
He said that the plants were conceived as complete gas-to-power plants so as to harness the abundant gas reserves of the country.
He said that that an improved power situation in the country would boost economic development, while attracting local and foreign investments.
Olotu said that Geregu Phase 2 power station was initiated in 2006 to complement the existing 414mw Phase1 power station.
NAN reports that the two power stations in Geregu were built by Siemens of Germany. (NAN)